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MEDICAID (con’t) Nursing Homes �� Medicaid DOES pay for LTC in nursing homes with the following program*: • Medicaid Institutional Care Program (ICP)- Unlike Medicare, Medicaid can pay for custodial care for an unlimited time period Home Care Agencies �� Medicaid DOES pay for LTC for home care from: ������Home Health Agencies/Nurse Registries Skilled Health Care - given by RN’s & LPNs Personal Care - given by HHAs • Homemaker/Companion Agencies Medicaid has several programs under Home and Community Based Services* (HCBS) to help individuals stay at home. They are: • Aged/Disabled Adult Waiver (ADA) • Consumer-Directed Care Plus Program (CDC+) • Nursing Home Diversion Waiver (NHD) • Hospice Care *Recipient must meet both functional and financial criteria for eligibility for all programs. Not all providers participate in these programs. To receive benefits care must come from an authorized participating program provider. LONG-TERM CARE INSURANCE �� Depending on the type of policy you purchase, a long-term care insurance policy DOES pay for care provided by: Assisted Living Facilities Nursing Homes Home Care Agencies Standard Provisions Long-term care policies are not standardized, resulting in many different policy designs. It is important to know the types of coverages available, then compare each policy before purchase, to make sure the policy being quoted has the benefits that are wanted. Coverage While LTC policies vary in coverage, they usually will pay either a fixed-dollar amount (an indemnity) or the actual costs of care. However, policies that pay for actual costs usually have a specified daily benefit amount that puts limits on how much can be paid out each day. There may be a limit on how many days the benefits will last. Florida LTC Partnership Program To encourage individuals to purchase private long-term care insurance, the State of Florida has developed a partnership program between Medicaid and private insurers. Florida Long- Term Care Partnership Program policies are: • tax qualified • provides inflation protection • provides dollar-for-dollar asset protection in the event you need to apply for long-term care Medicaid assistance. REVERSE MORTGAGE • The funds from a reverse mortgage can be used for any purpose. Just remember that a reverse mortgage is a loan against the equity you have built up in your home. Be prudent as to how you use these funds. Before you borrow, you should carefully consider whether it’s right for you. 66 www.PolkElderCare.com


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